Carige: Moody’s pone rating in ‘review for upgrade’

Banca Carige has made it known that Moody’s has placed the assessment on the creditworthiness of the group in a ‘review for upgrade’. Moody’s action is framed “in the agency’s expectation of a convergence of the bank’s ratings (‘Caa2’) with those of Bper (‘Ba3’) in the event of discussions with the group’s main shareholders (Fondo Interbancario di Deposit Protection, Voluntary Intervention Scheme of the FITD and the Cassa Centrale Banca Group) should lead to an integration of Carige into the Emilian Group, benefiting from the best judgment on the creditworthiness of the latter “.

The US rating agency also clarifies that, should the acquisition not be finalized, Banca Carige’s ratings would remain unchanged.